Tuesday, August 10 2010 14:56
Average salary in banking system of Armenia up 14% versus first half of 2009 to 301,000 drams on June 30 2010
ArmInfo. Average salary in the banking system of Armenia was up 14% versus the first half of 2009 to 301,000 drams or $819 on June 30 2010. Total salary costs in the banking system (inclusive of equivalent payments) for the period under review totaled 15.6 billion drams ($43 million, up 21%). The number of employees in the banking system for the first half of 2010 averaged 8664 people, which is 7.4% or by 595 people more than for the same period of 2009. Three banks showed annual decline of the average salary: BTA Bank - 14.3%. The number of employees of 7 banks decreased versus the first half of 2009: BTA Bank - 13% to 135 people.
Ranking of Armenian Commercial Banks prepared by the Agency of Rating Marketing Information (ArmInfo) says the highest average salary for the first half of 2010 was registered at Byblos Bank Armenia - $1.8 thousand or 650,000 drams (50.2% growth for the given period). The total number of the bank's employees is 82 (down 8%). HSBC Bank Armenia is the second - $1.7 thousand or 615,000 drams (up 26.7%). The total number of the bank's employees was down 6.2% to 365 people. Ameribank is ranked the third - $1.4 thousand or 510,000 drams (up 32%). The number of employees grew by 140 people to 328 after merger with Cascade Bank. Mellat Bank is the 4th - $1.3 thousand or 474,000 drams (up 14.5%). The number of employees was left unchanged - 38 people (the fewest in the banking system) and ArmSwissbank is the 5th - $1.2 thousand or 463,000 drams (up 14%). The number of employees is 79 (down 2,5%). Byblos Bank Armenia is in the lead in terms of the annual growth of the salary.
Ardshininvestbank has the biggest number of employees -1073 (up 2.7% for the first half of 2010). The average salary at the bank is $546 or 201,000 drams (up 2.2% for the first half of 2010). VTB Bank (Armenia) is the second - 901 people (down 0.7%). The average salary at the bank is $603 or 222,000 drams (up 12.5%). ACBA-Credit Agricole Bank has 899 people (up 25%). The average salary is $1.2 thousand or 443,000 drams (down 10%). Armeconombank is the 4th - 652 people (down 4.4%). The average salary is $464 or 237,000 drams (up 14%). And Unibank is the 5th - 606 people (up 10.2%). The average salary is $796 or 293,000 drams (up 20.3%). The large staff of these banks is the result of the wide branch network. Top leaders in terms of the branch network are VTB Bank (Armenia), Ardshininvestbank, ACBA-Credit Agricole Bank and Armeconombank (share the third position) and Unibank. Mellat Bank's staff is the smallest - 38 people, whereas the bank is on the 4th position in terms of the average salary. Ameriabank is in the lead in terms of the annual growth of the staff - 73.5% or 140 people to 328 (after merger with Cascade Bank and opening of branches). The bank rose to the third position from the 6th in Q2 2010 by the average salary.
Top five banks in terms of salary costs (inclusive of equivalent payments) for the first half of 2010 are ACBA-Credit Agricole Bank - 2.4 billion drams ($6.5 million), HSBC Bank Armenia - 1.4 billion drams ($3.7 million) and Ardshininvestbank - 1.3 billion drams ($3.5 million), VTB Bank (Armenia) - 1.2 billion drams and Unibank - 1.1 billion drams.
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